crash2006 Posted January 12, 2015 Share Posted January 12, 2015 The question people should ask where is the money going, the state collects tax the state pay down its debt and who received that payment? Quote Link to comment Share on other sites More sharing options...
zugzwang Posted January 12, 2015 Share Posted January 12, 2015 The question people should ask where is the money going, the state collects tax the state pay down its debt and who received that payment? The usual suspects. Quote Link to comment Share on other sites More sharing options...
happy_renting Posted January 12, 2015 Share Posted January 12, 2015 Hardly subtle to anyone who can do arithmetic. Few can. And most don't work out that it is a tax in all but name. Quote Link to comment Share on other sites More sharing options...
happy_renting Posted January 12, 2015 Share Posted January 12, 2015 10% is a big number. Countries that successfully run wealth taxes normally take fractions of 1%. For example Italy's IVAFE rate was 0.2% for 2014. They might try 10% as a 'one-off' levy, much in the way Poland recently seized about 50% of pensions. 10% per annum of all assets would be huge. But if they tried a one-off, they would probably come back for more later. Quote Link to comment Share on other sites More sharing options...
davidg Posted January 12, 2015 Share Posted January 12, 2015 > Your original post was rather misleading.... Its you, not me. > Although taxation is usually quoted as an annual rate, I assume you meant 20% over a seven year period? Well we are talking about a one off tax, as I said, it is you, not me. > My average interest on savings over the last seven years is over 4% per annum, somewhat higher than inflation. Sometimes in life you have to see the wider picture Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted January 12, 2015 Share Posted January 12, 2015 > Your original post was rather misleading.... Its you, not me. > Although taxation is usually quoted as an annual rate, I assume you meant 20% over a seven year period? Well we are talking about a one off tax, as I said, it is you, not me. > My average interest on savings over the last seven years is over 4% per annum, somewhat higher than inflation. Sometimes in life you have to see the wider picture I am quite capable of seeing the wider picture, but your statement that "With interest rates since 2008 the government has already levelled a tax of 20% on anyone with cash savings" was in error. It may be true in some cases, where savers have not shopped around for the best savings rates, but it does not apply to "anyone with cash savings", as it has been quite possible to stay ahead of inflation over that period using only savings accounts. With interest rates since 2008 the government has already levelled a tax of 20% on anyone with cash savings. Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted January 12, 2015 Share Posted January 12, 2015 Nah, banks would allow you to release the equity in your pwoperdee to pay the tax. Financial innovation innit? That would probably be the only way, which frankly demonstrates how insane the plan is. Produce more credit to bail out a system that's created too much credit to be sustainable. However how are we defining an asset? This would collapse asset price values as most people would be forced to sell as they wouldn't have the cash or alternatively they need a loan. This is utterly insane that will cause a depression to bailout the banks! Meaning they will need another bailout. Just admit the assets people have got aren't worth what they think they are. Quote Link to comment Share on other sites More sharing options...
Quicken Posted January 12, 2015 Share Posted January 12, 2015 If things get that desperate we will see wholesale adoption of cryptonote technology like Bytecoin. Bytecoin is a scam with a massive stealth premine. https://bitcointalk.org/index.php?topic=740112.0 It has no trading volume and is pretty much dead as a currency. Treat with extreme caution. The major legitimate crytonote coin is called Monero: https://bitcointalk.org/index.php?topic=583449.0 I believe Monero has the best potential in the anonymous and private cryptocoin space and I have invested. Check it out. Cheers, Q Quote Link to comment Share on other sites More sharing options...
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